Question

Monil invests Rs 5600 at 14% p.a. compound interest for 2 years. Calculate:

i) the interest for the first year

ii) the amount at the end of the first year,

iii) the amount at the second year, correct to the nearest Re.

• A. Rs 1820
• B. Rs 1500
• C. Rs 1800
• D. Rs 1600

Answer 1

The correct option is C

Rs 1800